NRI investors, take note 👇

Debt Mutual Funds purchased on or after 01-Apr-2023 are generally covered under Section 50AA.

❌ No indexation
❌ No LTCG benefit based on holding period
✅ Taxed as STCG at applicable slab rates

Many liquid fund redemptions are being reported incorrectly while filing returns.

#NRI #Section50AA #MutualFunds #CapitalGains #IncomeTax

I saw a meme post on Facebook suggesting that no one earns a billion dollars except by wage theft, that no one works a billion times harder than other hardworking people who make ordinary wages. That seems a fair claim. I wrote this next paragraph in response, kind of as a spur of the moment thought, but it's something I want to spend more time thinking about:

I used to think that one solution to this was the practice of asking CEOs to not make more than some fixed multiple of their lowest-paid employee. But now I see the goal is to not employ anyone either. A lot of the benefits for corporations are justified on the idea that they employ people, so helping them helps people. Now that this assumption is on a path to being increasingly violated, we need to reconsider our special treatment of corporations as well.

#ai #corporations #billionaires #NoBilliionaires #LateStageCapitalism #ShareholderCapitalism #RegulatoryCapture #society #ethics #unemployment #automation #law #CapitalGains #CapitalGainsTax #WealthTax #inequality #fascism #feudalism #oligarchy

There are a lot of good thoughts in this #HankGreen interview with #KylaScanlon, but this part stands out like a flashing light:

"Why do I pay lower taxes on money I don't work for?"

That should have been the rallying cry of every progressive candidate over the past 10 years. Raising the #CapitalGains tax rate is so much simpler than creating an entirely new #WealthTax from scratch, and it would make the #Democrats look like the party that values hard work.

https://youtu.be/jOR4wuiPeEQ?t=2541&si=nb4jaLbRk1feuIQ5

* so why is #albanese trying to distract us with this talk of #capitalgains when we know they won’t do anything.
* we are going 300B to the USA so they and Uk can use our ports to store and maintain their #nuclear #subs
* #albanese is about to get a lesson on the #springbok tours by agreeing to let the hate/murdering #israelipresident into #australia.

Have I missed anything?